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hurricane sandy, though, still making waves. analysts expect the super storm to dent unemployment figures out later today. we'll review that report when we come back. >>> here are the headlines. u.s. job growth is expected to have slowed significantly in november as hurricane sandy battered the economy. japanese authorities have lifted all tsunami warnings after a 7.3 magnitude quake struck off the northeastern coast. and bundesbank has sharply lowered germany's growth outlook from 1.6 to a mere 0.4%. it's warned of an imminent recession as problems in europe periphery weigh. futures at the moment forecasts a soft start. down 15 at the moment on the dow, nasdaq currently called down 3.8, and s&p 500 around 1.5 points. european stocks are flat really. forgave points for the ftse, xetra dax is up though at it highest level since 2008. up nearly 28% this year. flat on the cac, ibex down two thirds. but hurricane sandy is expected to have put a pretty big accident in the november u.s. jobs report. it's out at 8:30 eastern. nonfarm p
hurricane sandy, though, still making waves. analysts expect the super storm to dent unemployment figures out later today. we'll review that report when we come back. >>> here are the headlines. u.s. job growth is expected to have slowed significantly in november as hurricane sandy battered the economy. japanese authorities have lifted all tsunami warnings after a 7.3 magnitude quake struck off the northeastern coast. and bundesbank has sharply lowered germany's growth outlook from 1.6...
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Dec 7, 2012
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no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and there is no effect which brings us to the numbers which you could believe on face value as much as you can. they'll revise this again. they only come forward with 60% to 70% of the sample. unemployment rate falling 7.7% because largely a drop in the labor force. average hourly earnings up 0.2%. despite positive headlines, xwoeld man sax says we interpret this report as one only slightly better than expected overall given downward revisions and weaker labor force and it does not change our assessment of the underlying strength of the labor market. priva
no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and...
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Dec 6, 2012
12/12
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early thanksgiving, hurricane sandy. is this rally at the end of the day having anything to do with any anticipation of the jobs report? what are you looking for? >> no, i don't think so. we're looking for almost exactly half. we had 171,000. the consensus is 85 to 90,000. we're looking at half. i understand that, you know, superstorm san difs a horrible event, and i am sure it's going to take some jobs out, but it's going to also be a bit of an excusetrending well. i'll give you an example. wells fargo gallup does a small survey. on hiring, small businesses dropped to the lowest level of opt miimism in four years. it doesn't matter what ben bernanke does. i think his programs have long since not really helped the employment side, but the fiscal cliff is doing obvious damage. that's going to make what everybody knows is coming. we ran out of two years to sell. they're going to go from a twist to outright purchases. it's fully built into the market, but it isn't going to help. the fiscal cliff is going to do more damage t
early thanksgiving, hurricane sandy. is this rally at the end of the day having anything to do with any anticipation of the jobs report? what are you looking for? >> no, i don't think so. we're looking for almost exactly half. we had 171,000. the consensus is 85 to 90,000. we're looking at half. i understand that, you know, superstorm san difs a horrible event, and i am sure it's going to take some jobs out, but it's going to also be a bit of an excusetrending well. i'll give you an...
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Dec 7, 2012
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you had sandy. i mean, it may be -- the journal argued it's the least important jobs number in five years. >> i saw that. i do think one thing we can certainly say given that china seems to be stabilizing a bit, we can all discuss europe. greek situation. maybe it's off the front pages for a while. and so if we assume that the jobs picture in the u.s. is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a theory of how i could cause a recession. i would cut back government spending quickly. >> i would raise interest rates to 20%. >> bernanke ought to join the -- look, i think
you had sandy. i mean, it may be -- the journal argued it's the least important jobs number in five years. >> i saw that. i do think one thing we can certainly say given that china seems to be stabilizing a bit, we can all discuss europe. greek situation. maybe it's off the front pages for a while. and so if we assume that the jobs picture in the u.s. is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one...
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Dec 10, 2012
12/12
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also matt mccormick, sandy lincoln, and john spolinsani. what do we do between now and the end of the year? >> we wait. you hope there will be a resolution with the fiscal cliff. also 2013 could be a difficult year. it's the first year of the presidential term which is usually a weak un. earnings growth looks a little bit weaker. we are very big on di dends. we believe this is a grinded out market. prepare for instability. >> so it's glass half empty for you right now. >> we'd like to be optimistic but tell clients buy with sound balance sheets. and if the market goes up better, we're in a better position. >> i have to press you on what you say about you like companies that pay better dividends? >> right now you're looking at the. senate bill will will tax for gross incomes of $250,000. that's not a deal killer. there was an article this week talking about how dividends -- people buy dividends for income and downside protection. those issues do not go away regardless of what happens with taxes. people need income. >> you told us last time y
also matt mccormick, sandy lincoln, and john spolinsani. what do we do between now and the end of the year? >> we wait. you hope there will be a resolution with the fiscal cliff. also 2013 could be a difficult year. it's the first year of the presidential term which is usually a weak un. earnings growth looks a little bit weaker. we are very big on di dends. we believe this is a grinded out market. prepare for instability. >> so it's glass half empty for you right now. >> we'd...
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Dec 3, 2012
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sandy stimulated sales of new cars last month. see which automaker drove away with bigger gains, ford or gm. >> then pain at the pump. our next guest is warning a new ethanol fuel blend that not only costs more but adds to the cost of food could damage your car and void your warranty. really? you're going to want to hear this coming up. >>> and banks be aware. a third of americans would rather get a mortgage from walmart than a bank, even though walmart doesn't offer them, at least not yet. we'll hear from somebody saying offering home loans would be a boone for walmart stocks. [ male announcer ] this december, remember -- you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. when you take a closer look... ...at the best schools in the world... ...you see they all have something very i
sandy stimulated sales of new cars last month. see which automaker drove away with bigger gains, ford or gm. >> then pain at the pump. our next guest is warning a new ethanol fuel blend that not only costs more but adds to the cost of food could damage your car and void your warranty. really? you're going to want to hear this coming up. >>> and banks be aware. a third of americans would rather get a mortgage from walmart than a bank, even though walmart doesn't offer them, at...
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Dec 5, 2012
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the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's start with bigger of the two deals. freeport's purchase of plains. approximately $6.9 billion in total now. it's a cash and stock deal. .6531 shares and 39 bucks a share in cash. that adds up to $50 a share. that's a fairly significant premium when we look at
the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal....
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Dec 3, 2012
12/12
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how much is blamed on sandy when it shouldn't? >> everything blamed on sandy. that's going to work for a while. once you dig into the details, wait a minute, this isn't all sandy. because the east coast is a very big part of the -- >> obviously oh, yes. >> the economy. >> everybody who has gone through sandy. >> chicago is a big part, texas, california, they weren't affected directly by sandy. so that will come back much quicker if it's going to come back. that's where you have to look, to see what the trend was beforehand. >> okay. now europe. you know, there was a little bit of a -- a confusion this morning when spain asked for a bailout. they're talking bank bailout, country bailout, new program. rates are down. i've seen many stories, if this is really going to be a positive rates being down, we have to really draw in more global investors. do you think that will happen ultimately? >> ultimately, i do think it will. any time europe gets pushed to the background, i'm kind of pleased. as long as their banking system isn't going to affect ours, i think we can
how much is blamed on sandy when it shouldn't? >> everything blamed on sandy. that's going to work for a while. once you dig into the details, wait a minute, this isn't all sandy. because the east coast is a very big part of the -- >> obviously oh, yes. >> the economy. >> everybody who has gone through sandy. >> chicago is a big part, texas, california, they weren't affected directly by sandy. so that will come back much quicker if it's going to come back. that's...
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Dec 5, 2012
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it may have been reduced by 86,000 because of hurricane sandy. but there was a good number today which was the ism data when it comes to the services sector. you can see it was up. there's the adp data. but i want to talk about the services sector which was up a bit more than expected. then what you had, business activity was up, new orders were up, employment was the one thing that was down. i don't know if that's a sandy effect. that could be also, by the way, a fiscal cliff effect. zplint vi >> interviewing secretary geithner later today. what's your first question going to be? >> i want to get his response -- we had the president respond to boehner's proposal but i want to get the secretary's response, too, the specific issue of, hey, the republicans looked like they made a step forward, actually got some accolades in some of the press for agreeing to new revenues. where's the administration's response on that side? are they willing to give? i think that's a key question right now in terms of what the news flow is right now but also there's c
it may have been reduced by 86,000 because of hurricane sandy. but there was a good number today which was the ism data when it comes to the services sector. you can see it was up. there's the adp data. but i want to talk about the services sector which was up a bit more than expected. then what you had, business activity was up, new orders were up, employment was the one thing that was down. i don't know if that's a sandy effect. that could be also, by the way, a fiscal cliff effect. zplint vi...
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we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane sandy which could put our unemployment up to an 8% rate. >> all right. we'll be watching that. thanks very much to you both. we appreciate it. of course we'll be looking at this market and whether or not it loses the steam come the big rally today. ticktock, ticktock on the fiscal cliff. my thoughts on the story from timothy geithner. guess what, folks. i think we're going over the cliff. back in a moment. are system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten s
we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane sandy which could put our unemployment up to an 8% rate. >> all right. we'll be watching that. thanks very much to you both. we appreciate it. of course we'll be looking at this market and whether or not it loses the steam come the big rally today. ticktock, ticktock on the fiscal cliff. my thoughts on the story from timothy geithner. guess what, folks. i think we're going over the cliff. back...
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Dec 4, 2012
12/12
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know what's going on in the next couple of months, coupled with the fact we just came off of hurricane sandy, this is not the time to play games and taunt one another with these plans that everybody knows are not real plans. >> i agree, but i think we should look beyond one year's growth. we're talking about growth through 2050. the gentleman pretending to know he knows the growth rate between now and 2050 -- >> he gets paid to make predictions, steve. that's what he's doing. by the way, his former predictions have been right. let's give him that. >> some of them have been right. there was a guy in the 19th century who predicted we were all going to starve as he predicted the proplatiopulation of the world with but forgot to predict the agricultural technology. you can't hold one constant and let the other variable be a variable. >> right now this country is focusing on policies that continue to predistribute from the most productive members to those that may be more favorable. that's his point, that we've continued to lose momentum for the past several decades and continuing to implement th
know what's going on in the next couple of months, coupled with the fact we just came off of hurricane sandy, this is not the time to play games and taunt one another with these plans that everybody knows are not real plans. >> i agree, but i think we should look beyond one year's growth. we're talking about growth through 2050. the gentleman pretending to know he knows the growth rate between now and 2050 -- >> he gets paid to make predictions, steve. that's what he's doing. by the...
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Dec 7, 2012
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now, again, back to hurricane sandy. from the commissioner's statement, the storm we saw happen on october 29th, the next pay period ended on november 12th. the way bls essentially keeps score it says workers have to be off work for the entire pay period to be counted on the negative side. on the household survey side, persons who missed work for weather-related events are counted as employed whether or not they are paid for the time off. we did have a drop in the labor force participation rate, down 0.2 to 63.6%. how did we get to 7.7% unemployment? basically the number of unemployed persons dropped more than the number of employed and there were downward trends in both those categories. lots to chew on. back to you guys. >> hampton, thank you. we are kind of scratching our heads. let's get more reaction from our panel. mark zandi and jared bernstein are here with us. mark, what do you make of this number? we've set this up as numbers were not going to be things we watched closely because of sandy. >> i'd say two things
now, again, back to hurricane sandy. from the commissioner's statement, the storm we saw happen on october 29th, the next pay period ended on november 12th. the way bls essentially keeps score it says workers have to be off work for the entire pay period to be counted on the negative side. on the household survey side, persons who missed work for weather-related events are counted as employed whether or not they are paid for the time off. we did have a drop in the labor force participation...
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Dec 10, 2012
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nonfarm payrolls roads by 136,000 as the hit from hurricane sandy wasn't quite as bad as feared. the unemployment rate fell to a new low of 7.7%, but that was largely because many people had given up looking for work. and nearly half of u.s. companies say they would pull back on hiring if the economy goes over the fiscal cliff. now joining me on krn, jim cash. good morning and thanks for joining us. >> good morning. thank you. >> tell us a little bit about the results of this survey which indicate that companies have been reacting to the fiscal cliff by pulling back on spending or hiring. why haven't we seen that show up in the jobs report? is there a concern that we might see more of a pullback into next year? >> i think that's exactly what this survey is saying. about 50% have already taken some action. i think companies right now are waiting to see what's going to happen and it really comes down to two major issues. if we can get this fiscal cliff issue resolved, then we are looking at a pretty optimismic outlook from our members. but if we don't get the fiscal cliff, almost 6
nonfarm payrolls roads by 136,000 as the hit from hurricane sandy wasn't quite as bad as feared. the unemployment rate fell to a new low of 7.7%, but that was largely because many people had given up looking for work. and nearly half of u.s. companies say they would pull back on hiring if the economy goes over the fiscal cliff. now joining me on krn, jim cash. good morning and thanks for joining us. >> good morning. thank you. >> tell us a little bit about the results of this survey...
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Dec 3, 2012
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how much of this demand rise are we going to see will be sandy rebound from sandy and actually real demand? >> we have low interest rates and old cars on the road. so a lot of the demand is real demand. but the other thing is that all the checks haven't been written for sandy. we've had about two weeks of checks coming from insurance companies. but there will be more probably next month of that than there is this month. so it will help. but it's the general market conditions and cars that are on average 11.1 years of age that are really driving car sales. in this low interest rate environment, this is the other big ticket item. >> how are people going to fund their purchases? you have an 11-year-old car, how are they funding the replacement of it? >> well, the availability of credit has improved dramatically over the last eight months or so. and we're even seeing people with bumps in their credit history, subprime borrowers, getting more acceptances of their car loans. and of course there are a lot of incentivized interest rates from the manufacturer's financing arms out there, as well. th
how much of this demand rise are we going to see will be sandy rebound from sandy and actually real demand? >> we have low interest rates and old cars on the road. so a lot of the demand is real demand. but the other thing is that all the checks haven't been written for sandy. we've had about two weeks of checks coming from insurance companies. but there will be more probably next month of that than there is this month. so it will help. but it's the general market conditions and cars that...
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Dec 5, 2012
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you have fiscal cliff, you have hurricane sandy. are you optimistic about what's happening in the economy if you take out the potential shocks? >> i don't think we make any change at all. i think the job market is producing 150,000 jobs per month, that's what we've been producing since the beginning of the year, over the past year, past two years, some months we're a little lower, higher, sometimes seasonal adjustment. if you take this month's number and x out sandy, that's over 200,000. >> that will add some jobs, that's not a fair comparison. >> so 200,000 minus 60 is 150 -- >> so you're right there. >> i don't think the economy has chang chang changed deappreciably over the last year. >> well, i think coming into friday's number, we're a little -- we don't think there's 80,000 worth of impact, might be closer to 40,000 or 50,000. whatever, there's been an impact and i agree with mark's point, 1 in about 150,000 job creation in the economy and i don't know that meaningfully changes. but i would say, if anything, the bias next year
you have fiscal cliff, you have hurricane sandy. are you optimistic about what's happening in the economy if you take out the potential shocks? >> i don't think we make any change at all. i think the job market is producing 150,000 jobs per month, that's what we've been producing since the beginning of the year, over the past year, past two years, some months we're a little lower, higher, sometimes seasonal adjustment. if you take this month's number and x out sandy, that's over 200,000....
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Dec 4, 2012
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over the last month, despite hurricane sandy, it is still up 5%. but would going over the fiscal cliff hurt or derail the insurance giant as many expect it to derail business in general? joining me now is the chairman and ceo of allstate. thank you for joining us. president and congressional leaders are meeting with state governors today. you're one of the ceos who met at the white house with some of your other colleagues in business. what's your stance of where we are right now in terms of a deal? >> i'm concerned about it. the good news is everybody sees this as an opportunity to really show american global leadership. the rest of the world is all messed up on this. we can show them how to get it done. they've also all agreed on the three buckets, that being revenues, entitlements, and spending reductions. the bad news is they haven't agreed on how much into each bucket. and i don't think they're trying to create a win/win for each other. most good negotiations, you try to help the other person come out with a win. i don't see that here. >> you h
over the last month, despite hurricane sandy, it is still up 5%. but would going over the fiscal cliff hurt or derail the insurance giant as many expect it to derail business in general? joining me now is the chairman and ceo of allstate. thank you for joining us. president and congressional leaders are meeting with state governors today. you're one of the ceos who met at the white house with some of your other colleagues in business. what's your stance of where we are right now in terms of a...
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Dec 6, 2012
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as soon as you get done figuring out, how much is sandy, how much is not sandy, we have to start dealing with the fiscal cliff so there's a shock behind us and a shock in front of us. so we're in limbo right now. and we're expecting a big effect from sandy in the friday number, especially in maybe the household survey, they moved the survey week back a week. because of an early thanksgiving. they do that -- so instead of it being the week of the 12th, it's the week of the 5th. >> so this number is going to tell us nothing tomorrow? > know there's going to be a lot of discussion about it. i'll stick to my guns, it's a 125 to 150 economy growth some of that could be sandy. i don't donknow if you want to k about that chart. this looks at the net effect acceptable. if 30% say it's acceptable and 20% say -- these are what we asked people. how many is that? that's five of eight different solutions. >> people say, yes, we're okay dealing with the fiscal cliff, if you raise taxes on those who make more than $250,000 and then you cap deductions, and virtually everything else is off the table. >>
as soon as you get done figuring out, how much is sandy, how much is not sandy, we have to start dealing with the fiscal cliff so there's a shock behind us and a shock in front of us. so we're in limbo right now. and we're expecting a big effect from sandy in the friday number, especially in maybe the household survey, they moved the survey week back a week. because of an early thanksgiving. they do that -- so instead of it being the week of the 12th, it's the week of the 5th. >> so this...
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Dec 3, 2012
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some of that is attribute knowledge to superstorm sandy. an estimated quarter million vex were destroyed. those numbers will be out this morning. it would only say that it is speaking to, quote, interested parties. but delta air lines is involved in those sdgzs. virgin is the second largest airline at heath row. >>> and lenny dykstra will be sentenced today. he was found to have hidden and stole sports memorabilia other items that were supposed to be part of a bankruptcy filing. >>> the game of political chicken, we were looking to rise above the partisan politics and trying to get something done. david walker, ceo of the america comeback initiative, steve mcmahon, co-founder of purple strategies, you guys have been on for a while and we've talked about a lot of things. steve, just 1:30 ag ago, you made a point talking about the bush tax cuts. and i said the tax cuts have been near and dear and you said at least bush was smart enough to know that we couldn't afford them so they were sunseted. >> so they were sunseted. >> that may happen. in
some of that is attribute knowledge to superstorm sandy. an estimated quarter million vex were destroyed. those numbers will be out this morning. it would only say that it is speaking to, quote, interested parties. but delta air lines is involved in those sdgzs. virgin is the second largest airline at heath row. >>> and lenny dykstra will be sentenced today. he was found to have hidden and stole sports memorabilia other items that were supposed to be part of a bankruptcy filing....
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of sandy jobless claims relative to katrina. if we don't have that chart -- there it is, great. it goes up and now we're in the down. it may pop back. but the trouble is that the big surge there is probably in the week of -- or is going to affect the week of the employment survey. >> the last week. >> and now, guys, if you have the next one back there, i don't know if you have it, you can see there what we show there is we're looking for only 80,000 jobs on friday. 95 in the private sector. that's a big jobs -- it might be hurricane related, but it could also be cliff related. there's these two things just backing up what joe said, folks, we've got enough to worry about without the stuff that we could probably fix and move on, there's enough going on. you can see that we're going to be substantially below the six-month average that we've been running there. and that shows that, you know, we were not robust to begin with, and this is why guys at the fed are concerned about things like this. if you're going 3% or 4% gdp, you have
of sandy jobless claims relative to katrina. if we don't have that chart -- there it is, great. it goes up and now we're in the down. it may pop back. but the trouble is that the big surge there is probably in the week of -- or is going to affect the week of the employment survey. >> the last week. >> and now, guys, if you have the next one back there, i don't know if you have it, you can see there what we show there is we're looking for only 80,000 jobs on friday. 95 in the private...
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Dec 7, 2012
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so sandy did leave an impact in the data. but i think the report as a whole shows that the economy has been resilient, as i say every month when i'm on your show we're making progress. we're digging our way out of a deep hole. we're not satisfied yet. there's a long way to go. but there are signs that the economy is continuing to heal. >> is it a realistic possibility a year ago today the unemployment rate was 8.7%. today it's 7.7%. is it a realistic possibility, i know you don't like to project numbers, but that we could expect another point drop a year from now? is. >> well, we'll come out with our official projections when the budget comes out but i would say if congress does address the problems that it needs to address concerning the fiscal cliff if we had reasonable resolution type of programs that the president has been proposing to support the economy in the short run, get us on a sustainable fiscal path in the long run, protect the middle class, we're going to continue to see progress in this economy. in fact, i woul
so sandy did leave an impact in the data. but i think the report as a whole shows that the economy has been resilient, as i say every month when i'm on your show we're making progress. we're digging our way out of a deep hole. we're not satisfied yet. there's a long way to go. but there are signs that the economy is continuing to heal. >> is it a realistic possibility a year ago today the unemployment rate was 8.7%. today it's 7.7%. is it a realistic possibility, i know you don't like to...
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Dec 6, 2012
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estimation now trading in the low 50s, moves to the upper 50s, it's digesting the negativity surrounding sandy and its geographic location well. they've got the cash in hand to fund this. this is a solid company. >> dennis gould is sitting at 1700, not talking about a special dividend here but is it going to pay dividends to own gold? >> i think owning gold in dollars has been a bad trade for a while. i'm bullish for gold in non-u.s. dollar terms, in yen terms and if you own gold in yen terms over the course of the last two months you are profitable. somebody owns gold in dollar terms is down several points. gold is nothing more than another currency, crossed against other currencies and there's nothing spectacular about gold, it's just a currency. >> call it a slick slide for oil, crude falling 2% nearing its lowest level in three weeks. for more let's go to jackie deangelis, the host of "futures now." >> crude having a tough day, the question is why. look at this chart dollar strength is causing major pain for oil, our question today is there more to selling than just the dollar rally? let's
estimation now trading in the low 50s, moves to the upper 50s, it's digesting the negativity surrounding sandy and its geographic location well. they've got the cash in hand to fund this. this is a solid company. >> dennis gould is sitting at 1700, not talking about a special dividend here but is it going to pay dividends to own gold? >> i think owning gold in dollars has been a bad trade for a while. i'm bullish for gold in non-u.s. dollar terms, in yen terms and if you own gold in...
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Dec 7, 2012
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sandy will have had an affect on this. what we're interested to know is whether or not the fiscal cliff fears had any affect on this. was there less hiring, anybody laying off in anticipation of the fiscal cliff? that will be hard to determine. christine and i will look at the numbers when they come in to see if there's any impact of that. the affect of sandy, 86,000 fewer jobs than we otherwise would have had. we're looking at a much lower number. christine appears to have it right now. we are -- >> lowest unemployment rate since december '08. 7.7%. that's the unemployment rate. surprise there. i'm going to listen to the jobs part of it. >> that is unexpected. we were expecting the unemployment rate to go to 8.0, from 7.9 to 8.0. it's gone the other direction. >> 146,000 jobs created. >> double than what was expected. >> diane s wochlswonk, chief ec. 7.7% is the unemployment rate, 146,000 jobs that have been added. the estimates were completely off. what are the implications of these numbers? >> well, certainly it's reass
sandy will have had an affect on this. what we're interested to know is whether or not the fiscal cliff fears had any affect on this. was there less hiring, anybody laying off in anticipation of the fiscal cliff? that will be hard to determine. christine and i will look at the numbers when they come in to see if there's any impact of that. the affect of sandy, 86,000 fewer jobs than we otherwise would have had. we're looking at a much lower number. christine appears to have it right now. we are...
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Dec 2, 2012
12/12
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and part of that is due to sandy. there were $18 billion in lost wages and salaries from sandy. it really hit, although it didn't hit the nation, it will have an impact on g.d.p. and on unemployment. in october, we also saw that there was a decrease in purchases, adjusted for inflation, the biggest in three months. so, there was a definite stoppage, this was a populated area with an impact. >> when do we expect the numbers will come back? >>guest: there is one positive impact in terms of the economy. you have workers, construction workers coming from all over the country who have been unemployed to help rebuild and we are expecting there could be a half percentage point increase in economic growth next year because of this rebuilding effort. >>heather: is that construction jobs or over all? >>guest: in the reconstruction, rebuilding and infrastructure. this is not the way that we want economic growth but there is one side where people are getting jobs who did not have them before. >>heather: and another increase in auto sales? >>guest: so many of the cars were flooded out and th
and part of that is due to sandy. there were $18 billion in lost wages and salaries from sandy. it really hit, although it didn't hit the nation, it will have an impact on g.d.p. and on unemployment. in october, we also saw that there was a decrease in purchases, adjusted for inflation, the biggest in three months. so, there was a definite stoppage, this was a populated area with an impact. >> when do we expect the numbers will come back? >>guest: there is one positive impact in...
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Dec 6, 2012
12/12
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we got the big distortions from san sandy. slowly working through that. so i think if there's an outlier, investors will yawn and wait for the big nonfarm payroll report tomorrow. >> are we comfortable mf-i don't know how comfortable we are. consumers seem to be in better fettl eflt. >> in spite of this anemic job growth that we've had during the entire jobless recovery, it seems like consumers sense the -- their balance sheets have improved pretty dramatically. so, yeah, consumers -- and that's led to consumers spending slightly more than what experts thought they would spend. >> so you're overweight large cap versus small cap. why? >> the large cap u.s. multinationals, they typically have overseas subsidiaries that can reach into the emerging pockets of growth. i like the dividends payers, as well, because in these choppy markets which we'll continue to have get nice dividends. >> all right much ha. . have a good day. that's it for today's program. "squawk box" it is next. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life exp
we got the big distortions from san sandy. slowly working through that. so i think if there's an outlier, investors will yawn and wait for the big nonfarm payroll report tomorrow. >> are we comfortable mf-i don't know how comfortable we are. consumers seem to be in better fettl eflt. >> in spite of this anemic job growth that we've had during the entire jobless recovery, it seems like consumers sense the -- their balance sheets have improved pretty dramatically. so, yeah, consumers...
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Dec 8, 2012
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but he is at 69%, which is down from 77% right after hurricane sandy. he is riding high, governor dean. does this -- does this hurt him in the long run, do you think? >> i think not taking the exchanges probably doesn't hurt that much because people don't really fully understand the exchanges yet, and because the federal exchange will probably move the cause of the single payer further down the line. but i think not taking the medicaid money will be an enormous mistake. i have not heard him say that, and i don't think he will say that. i think he is much too pragmatic for that. >> we talk about chris christie being a sort of standard bearer for bipartisanship largely because of the photo ops around hurricane sandy. but when you look at his political record, he has not been particularly supportive of unions, and hazy been very much criticized by the left for shutting down infrastructure spending. >> i think, you know, he is basically positioning himself for reelection. he has done that pretty well. but let's not forget that george w. bush had popularity
but he is at 69%, which is down from 77% right after hurricane sandy. he is riding high, governor dean. does this -- does this hurt him in the long run, do you think? >> i think not taking the exchanges probably doesn't hurt that much because people don't really fully understand the exchanges yet, and because the federal exchange will probably move the cause of the single payer further down the line. but i think not taking the medicaid money will be an enormous mistake. i have not heard...
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Dec 4, 2012
12/12
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. >> i don't think all it have it will be explainable by superstorm sandy. i think a lot of it is pulling back. you've seen the capital investment. >> we have to move on but i have to push back on one thing. are we talking about two different things? when we got downgraded the market went down hard. more than a trillion in value. >> but the market price. the market came right back and actually went to new highs not that long after that. once the knee jerk reaction was done. the market is being sensitized to it right now. and that's a good thing. >>> two companies that issued special dividends ahead of the fiscal cliff and if you're keeping score at home that's 103 companies thus far this quarter valued at more than $22 billion. so we see this continued parade of companies just coming out and issuing special dividends whether it's by debt, with debt, or cash on the balance sheet. >> the big one there, scott, is costco. last week when costco made the announcement, it was up 5%, almost 7% on the news. oracle moves their dividends up and the stock is flat to dow
. >> i don't think all it have it will be explainable by superstorm sandy. i think a lot of it is pulling back. you've seen the capital investment. >> we have to move on but i have to push back on one thing. are we talking about two different things? when we got downgraded the market went down hard. more than a trillion in value. >> but the market price. the market came right back and actually went to new highs not that long after that. once the knee jerk reaction was done....
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Dec 3, 2012
12/12
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impact of super storm sandy and worry over possible tax increases are blamed. stocks were down today. the dow lost 60. s&p 500 dropped 7. nasdaq was off eight. halftime comment that had critics putting in full-time online and on twitter. that is later in the grapevine. up next, could new epa regulations topple one of the country's big industrys? [ female announcer ] food, meet flavor. flavor, meet food. it's time for swanson flavor boost. concentrated broth in easy to use packets. mix it into skillet dishes, for an instant dose of... hell-o! [ female announcer ] get recipes at flavorboost.com. >> bret: the director of national intelligence will breach house members. clap her be joined by other top officials and expected the bipartisan classified briefing may be followed by a similar session for senators. the supreme court is attempting to sift through the legal muddy waters about storm water runoff and pollution. it involves the environmental lobby versus the timber industry. correspondent shannon bream has the story from the high court. >> in the last 90 days,
impact of super storm sandy and worry over possible tax increases are blamed. stocks were down today. the dow lost 60. s&p 500 dropped 7. nasdaq was off eight. halftime comment that had critics putting in full-time online and on twitter. that is later in the grapevine. up next, could new epa regulations topple one of the country's big industrys? [ female announcer ] food, meet flavor. flavor, meet food. it's time for swanson flavor boost. concentrated broth in easy to use packets. mix it...
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Dec 6, 2012
12/12
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CNBC
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jobless claims coming in, down and this number should be essentially clean of sandy effects, so finally a clean read as to the claims aspect. but it doesn't look like, jim, that we are set for a lower open today. >> carl pointed out that maybe there's some room between sides. but, look, yesterday was one of those days, show a lot of americans don't even know about the fiscal cliff. paychecks are going to go down, a million layoffs in the defense industry. no one seems to care right now. it's bad. >> you know what we have going for us? the grid, december 17 announced -- on a seasonal basis, they have reiterated once again that it doesn't have the demand to be sold year round, but starting a week from monday. >> i don't buy that. i think they do it because whenever they have mcrib, they're just fighting traffic for mcrib. there are places in the world where the mcrib is on the menu all the time. in case you're there on your vacation. >> i'm learning here all the time. i'm always learning. >> switch from the bacon cheese-inator. [ bell rings ] . >> celebrating the ground breaking of hotels
jobless claims coming in, down and this number should be essentially clean of sandy effects, so finally a clean read as to the claims aspect. but it doesn't look like, jim, that we are set for a lower open today. >> carl pointed out that maybe there's some room between sides. but, look, yesterday was one of those days, show a lot of americans don't even know about the fiscal cliff. paychecks are going to go down, a million layoffs in the defense industry. no one seems to care right now....
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sandy which hit 25% of the u.s. population, 25 states or something like would that cut job creation andket the unemployment rate a bit, kept it higher. turns out sandy did have an impact but not on the headline numbers. >> if you look deeper in the report you see over a million workers who normally work full-time were reduced to part-time hours during the reference week because of bad wetter. over 300,000 additional workers weren't able to work at all because of bad weather. >> but because the way the labor department counts full-time workers part time workers and whether people work at all, and when they work, it didn't show up in the headline numbers . one thing that did, 350,000 people left the workforce in november. that was one reason again why the unemployment rate dropped to 7.7%. ashley and tracy. ashley: sounded good to begin with then you take in those factors as peter outlined, maybe not so good. peter, thank you so much. tracy: there is lot more ugly in the report and we'll talk about it now actually bec
sandy which hit 25% of the u.s. population, 25 states or something like would that cut job creation andket the unemployment rate a bit, kept it higher. turns out sandy did have an impact but not on the headline numbers. >> if you look deeper in the report you see over a million workers who normally work full-time were reduced to part-time hours during the reference week because of bad wetter. over 300,000 additional workers weren't able to work at all because of bad weather. >> but...
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Dec 7, 2012
12/12
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WJLA
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sandy was probably the last significant measurable rain we have had. we can use it. we will have chances on and off throughout the weekend. consider yourself lucky. it is friday. we do have showers north and west of the metro. everybody is sucked in with the cloudiness. nothing is sitting in the district right now. there are some drizzles at dulles. we had a touch just to the south and moving over towards the eastern shore at this time. it is a beautiful stark, isn't it? take a look at this gorgeous picture overlooking a georgetown. temperatures are not terrible. it is 40 degrees at this time. it is 36 in gaithersburg. temperature in manassas, 39 degrees. we had a drizzle at dulles. temperatures are better this morning than they were yesterday. at least we have that going for us. a cold front is starting off out to the west. we have a little area of low pressure. we are kind of stuck in between with no huge break. neither of those are dominating our weather. our forecast for today, cloudy skies, a couple of showers. 48-52 degrees. an isolated showers returning after
sandy was probably the last significant measurable rain we have had. we can use it. we will have chances on and off throughout the weekend. consider yourself lucky. it is friday. we do have showers north and west of the metro. everybody is sucked in with the cloudiness. nothing is sitting in the district right now. there are some drizzles at dulles. we had a touch just to the south and moving over towards the eastern shore at this time. it is a beautiful stark, isn't it? take a look at this...
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Dec 4, 2012
12/12
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make it to the hurricane sandy victims. the people have a big heart but they do not thing after the fact whether it could be a good idea to help those folks affected on the ground rather than the huge bureaucracies that presumably will help them on the ground. there is something wrong with the process that reduces the amount of money you get to a fraction of what was handed out. >>guest: it is essentially the money is laundered through the washington bureaucracy. we have seen this years ago blue are talking about welfare or any other program by the time the money reaches the intended victim it has been essentially fleeced. that is walk, one of the things that washington is really effective at. they know how to fleeces they know how to get each level bureaucracy to get theirs, essentially. >>neil: you seize on the emotional moment. thank you, thank you. and now, a charity bell ringer was turned away. and he claims women are to blame. .. >>neil: imagine walking into your first day of work and seconds later being told it will
make it to the hurricane sandy victims. the people have a big heart but they do not thing after the fact whether it could be a good idea to help those folks affected on the ground rather than the huge bureaucracies that presumably will help them on the ground. there is something wrong with the process that reduces the amount of money you get to a fraction of what was handed out. >>guest: it is essentially the money is laundered through the washington bureaucracy. we have seen this years...
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Dec 8, 2012
12/12
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chris and sandy's twin boys were just entering high school. when this case is heard, they will be getting ready to graduate from high school. their moms deserve the same freedom to marry just as everyone else has in this country. >> isn't it true that when we had this in the court in the ninth in the appellate level, nobody came forward because nobody could come up with what you call a justification, some compelling reason. just chat on that point. you raised it. there's no compelling reason against giving the rights to people, the right to marriage. >> that's exactly right, chris. it's important to note in both of these cases, the united states government has refused to defend doma, the federal law that's now before this court, and when we filed the case right here in california, as one has to do, we sued the governor at the time, which was arnold schwarzenegger and our attorney general at the time, which was jerry brown, the current governor. both responded by refusing to defend the case and ultimately joined our side in the case and said it
chris and sandy's twin boys were just entering high school. when this case is heard, they will be getting ready to graduate from high school. their moms deserve the same freedom to marry just as everyone else has in this country. >> isn't it true that when we had this in the court in the ninth in the appellate level, nobody came forward because nobody could come up with what you call a justification, some compelling reason. just chat on that point. you raised it. there's no compelling...
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Dec 4, 2012
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commerce department says it's not mostly sandy. it's other stuff. we are expecting home building to have the first positive impact on construction this year since 2005 think about that that's very good news. sandy will have a impact next month. >> haven't been able to get in there much yet. >> that's right. >> gerri willis, good to see you. >> good to see. >> you there is a shortage of small town doctors, anybody in a small town knows that national health fewer than 10% practice in rural areas. even though a quarter of the u.s. population lives there but medical schools are trying to reverse the trend. alicia acuna with more on that from our rockie mountain newsroom. >> hi, shep. this is an idea in the works by the university of kansas medical school. they have opened up satellite campus small town educating future dock norris a place where they will see patients. these medical students in salina kansas are pioneers. >> it's a great feeling because we are doing something that nobody has done before. >> attending what may be the smallest school in th
commerce department says it's not mostly sandy. it's other stuff. we are expecting home building to have the first positive impact on construction this year since 2005 think about that that's very good news. sandy will have a impact next month. >> haven't been able to get in there much yet. >> that's right. >> gerri willis, good to see you. >> good to see. >> you there is a shortage of small town doctors, anybody in a small town knows that national health fewer...
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Dec 2, 2012
12/12
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>> i think sandy changed it a little bit. they let the president be president. i think it helped. >> i would also say this race was more of a referendum in some way on mitt romney than it was the president and that's unusual. >> did your side -- i know you're a true believer and i respect that. i mean it. do you think they didn't really believe he believed? >> no, i don't think that was the problem. i think the bigger problem was two things. they never personally connected with him. they never felt this attachment and didn't see him as this person. that's his personality. secondly, i think we failed midd middle-income blue collar voters who feel we no longer understand their daily life and that we think it'sal about the social issues and fighting the tax breaks for the wealthy. >> i know. my dad's a regular republican, not a right winger. he e said the trouble with my party is they care about the big corporations too much, like ge used to always point to it. look at this. romney's senior adviser defended his campaign this week in a big article he wrote. he said
>> i think sandy changed it a little bit. they let the president be president. i think it helped. >> i would also say this race was more of a referendum in some way on mitt romney than it was the president and that's unusual. >> did your side -- i know you're a true believer and i respect that. i mean it. do you think they didn't really believe he believed? >> no, i don't think that was the problem. i think the bigger problem was two things. they never personally...
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charles: another hearing on hurricane sandy today. the victims are feeling that they are not being heard. >> fema is doing nothing. they still keep going around in a circle. a lot it is a joke. charles: this staten island resident says washington is losing focus on hurricane sandy. to be frank with you, from day one, staten island did not release been high on list of priorities. a lot of people felt that way then. how are you feeling? >> i agree with you. it seems like staten island is a forgotten puddle. you know, we are being forgotten about. i started to wonder is it because it's a republican town? because most people are republicans here. and is this because the majority of people that get loaded for office are republican. the president said when i met with them that fema works for him. and results are going to happen. it still hasn't. charles: i remember that. of course, your outburst at one of these recent meetings, when i thought the first time, i actually had goosebumps because i could feel the passion and pain. also, discussi
charles: another hearing on hurricane sandy today. the victims are feeling that they are not being heard. >> fema is doing nothing. they still keep going around in a circle. a lot it is a joke. charles: this staten island resident says washington is losing focus on hurricane sandy. to be frank with you, from day one, staten island did not release been high on list of priorities. a lot of people felt that way then. how are you feeling? >> i agree with you. it seems like staten island...
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Dec 8, 2012
12/12
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KPIX
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storm sandy didn't have -- super storm sandy didn't have as much of age pact on employment as economist had expected. the government says the storm played only a minimal role as the economy added 150,000 jobs. the unemployment rate fell to 7.7%, and that is a .2% drop. but those numbers were helped by people who stopped look for work and were not counted as unemployed. >>> on wall street, the dow is up 81 points. the s&p 500 edged up four. however, the nasdaq dropped 11 points. >>> the edge of the fiscal cliff is fast approaching. only 25 days away and going over it threatens to ruin the holidays for millions of americans. cbs reporter danielle nottingham says republicans are waiting for the president to make the next move. >> vice president joe biden at lunch with middle class americans who will take a $2,000 hit if their tax cuts expire at the end of the year. >> this is no time to add any additional burden. >> while the white house is pushing congress to renew middle class tax cuts, the president says he won't take any deal that extends tax cuts for the wealthiest americans. honor of
storm sandy didn't have -- super storm sandy didn't have as much of age pact on employment as economist had expected. the government says the storm played only a minimal role as the economy added 150,000 jobs. the unemployment rate fell to 7.7%, and that is a .2% drop. but those numbers were helped by people who stopped look for work and were not counted as unemployed. >>> on wall street, the dow is up 81 points. the s&p 500 edged up four. however, the nasdaq dropped 11 points....
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Dec 7, 2012
12/12
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>> well, keep in mind one of the reasons expectations were so low going into this one was hurricane sandy which everyone expected to be a temporary effect. that didn't material az somewhat mi mysteriously and the labor department indicated it had no impact on the number. you're right, this is not good enough. this is a treading water pace of jobs. it is more of the same. it's not particularly good in the quality of jobs being created so net net i think it's okay but certainly not what we'd like to see. >> maybe, tom, it is not that we are a nation of pessimists. it is that we're a nation of realists. maybe sort of from a strk turl long point of view we just have to get used to this. >> that's a great point. 150,000 is not good enough depending on your expectations for growth. if you're looking for 1.5% to 2% growth you are probably in the sweet spot. but if you are looking for something more, looking for 2.5% to 3% growth you need much more job growth to see that outcome. but we're not there. we don't think we'll get there. there's still too many headwind facing the small business segment
>> well, keep in mind one of the reasons expectations were so low going into this one was hurricane sandy which everyone expected to be a temporary effect. that didn't material az somewhat mi mysteriously and the labor department indicated it had no impact on the number. you're right, this is not good enough. this is a treading water pace of jobs. it is more of the same. it's not particularly good in the quality of jobs being created so net net i think it's okay but certainly not what...
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sandy. it looks like those are coming down again. the big jobs report will be tomorrow, which will give us the real gauge of what's happen iin here. they expect only 77,000 jobs added. and the unemployment rate, they think, will tick back up to 8%. 77,000. why? because of superstorm sandy. you didn't have hiring, people getting jobs in the northeast because during that time the last month or so. >> jack welch right now, they went up after the election. >> those chicago people. >>> all morning we've been following major developments in both syria, in egypt and syria there are new fears that they could unleash nerve gas on some of the rebels. that's a report from nbc news, that syria is loading the component chemicals. cnn has not confirmed that report yet. egypt, protoasters have started to gather outside the presidential palace in cairo. lots of anger building after the new president gave himself extra powers. the protests were very violent last night. the clashes killed at least five people
sandy. it looks like those are coming down again. the big jobs report will be tomorrow, which will give us the real gauge of what's happen iin here. they expect only 77,000 jobs added. and the unemployment rate, they think, will tick back up to 8%. 77,000. why? because of superstorm sandy. you didn't have hiring, people getting jobs in the northeast because during that time the last month or so. >> jack welch right now, they went up after the election. >> those chicago people....
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Dec 5, 2012
12/12
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KQED
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before hurricanes thomas last year, isaac in august and recently sandy. each storm brought a grim reminder of yet one more ever-present disaster: the deadly cholera epidemic that started ten months after the quake. at the cholera ward of saint luke's hospital just outside the capital port-au-prince, this doctor says since hurricane sandy admissions have doubled from 20 to 40 patients each day. >> most of the new cases are coming from further up the hill in places where we had not seen them before. i'm not positive but perhaps the wells there have been contaminated. >> reporter: experts believe cholera was brought here by u.n. peacekeepers. untreated sewage from this base flowed into a tributary of the river, the major source of water for both washing and drinking. cholera is spread by fecal-oral contact. two years on 200,000 patients have been sickened, 750 d 7,500 have died from diarrhea and fluid loss. each flood brings more contaminated water, more cases. the epidemic prompted massive relief efforts and public campaigns. on the streets and in classroom
before hurricanes thomas last year, isaac in august and recently sandy. each storm brought a grim reminder of yet one more ever-present disaster: the deadly cholera epidemic that started ten months after the quake. at the cholera ward of saint luke's hospital just outside the capital port-au-prince, this doctor says since hurricane sandy admissions have doubled from 20 to 40 patients each day. >> most of the new cases are coming from further up the hill in places where we had not seen...
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Dec 7, 2012
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we might actually have printed over 200 absent hurricane sandy. i would argue the trends is getting better. as jim pointed out, we need some clarity on the outlook, and the cliff is very important. if we go off the cliff, even if that number had been 250, the numbers still would weaken next year. >> jim, you have to make money in the meantime. where do you put your money? where are you putting money to work right now? >> well, i'm pessimistic. i share austin's view that i think we're going to go off the cliff and push this thing to february with the debt ceiling bill. as that reality comes in, the market is going to continue to struggle. i would avoid risky assets right now. i'd play something safe. play treasuries because you're not going to lose money on them. i'd play gold. i wouldn't be betting on that we're going to have a fix in place in the next 24 days that's going to lead to a big rebounds. >> all right. hang on one second, guys. we want to bring in and get your reaction to this rather surprising story that our phil lebeau has from illino
we might actually have printed over 200 absent hurricane sandy. i would argue the trends is getting better. as jim pointed out, we need some clarity on the outlook, and the cliff is very important. if we go off the cliff, even if that number had been 250, the numbers still would weaken next year. >> jim, you have to make money in the meantime. where do you put your money? where are you putting money to work right now? >> well, i'm pessimistic. i share austin's view that i think...
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Dec 10, 2012
12/12
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WMAR
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how the victims of hurricane sandy will benefit from this game. >>> thanks for joining on this monday morning. progress to report in washington on avoiding the year end fiscal cliff. the president met face-to-face at the white house with speaker john by aner and they didn't say anything -- boehner and they didn't say anything about it afterwards. >> reporter: president obama is back on the road today pedaling the plan to avoid the fiscal cliff. in washington republicans and democrats remain far from a deal. but sunday, a small sign of hope. mr. obama and house speaker boehner meeting face-to-face for the first time in nearly a month. >> any time you got two guystangoing you have a chance to get it done rouse a source says i would be encouraged not greatly but a little becauserepublicans may be ready to compromise. >> there is a growing group of folks looking at this and realizes that we don't -- realizing we don't have a lot of cards. >> reporter: some gop law makers are open to raising revenue especially holding the top rate below 36.9% and they are moving closer to entitlements with
how the victims of hurricane sandy will benefit from this game. >>> thanks for joining on this monday morning. progress to report in washington on avoiding the year end fiscal cliff. the president met face-to-face at the white house with speaker john by aner and they didn't say anything -- boehner and they didn't say anything about it afterwards. >> reporter: president obama is back on the road today pedaling the plan to avoid the fiscal cliff. in washington republicans and...
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hurricane sandy's impact continues to slowly but surely subside. we had weekly jobless claims dropping by 25,000 last week to a seasonally-adjusted 370,000. the week's prior total was revised upward to 395,000 from 393,000. and treasury prices rising today, pushing yields back down to their lowest level in more than two weeks. look at this pathetic yield on the ten-year note. it fell two basis points to 1.57%. you're not getting a lot of return there. david: which is why some people are putting their money in stocks. we have all this covered. we have til mulholland in the pits of the cme. we have a street fight. jeff believes there will be a fiscal cliff resolution. david wright, on the other hand, thinks d.c. will avoid the cliff, but it will not stop the bears from coming around this time. let's start with tim at the cme. and, tim, we were talking about what a low yield you get now on treasuries. people are looking for some kind of yield, and the only place you're finding it is in the stock market. >> yeah, that's true. you also get the corporate
hurricane sandy's impact continues to slowly but surely subside. we had weekly jobless claims dropping by 25,000 last week to a seasonally-adjusted 370,000. the week's prior total was revised upward to 395,000 from 393,000. and treasury prices rising today, pushing yields back down to their lowest level in more than two weeks. look at this pathetic yield on the ten-year note. it fell two basis points to 1.57%. you're not getting a lot of return there. david: which is why some people are putting...
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except for sandy, jobs would have been doing better, and sandy is seen as a temporary factor. >>> another usual factor, the layoffs and strikes from hostess. hostess filed for bankruptcy last month. want to bring you up to speed on facebook. facebook moving up. the social network will be listed on the nasdaq 100 next week and could be added to the s&p 500 very soon. shares are down nearly 30% since the ipo. but with the market value about $60 billion, it would rank among the top 50 largest companies. one economist says the move is imminent. when it moves into an index like that, portfolio managers and fund managers buy it, because many of them have funds that track the s&p 500. >> how do you feel about that jobs report? . . >> i would like to see a triple digit number, but i don't think we'll see it because of sandy, end of the year, companies are nervous. >>> we're watching a developing story in egypt where protests in the streets are expected against the country's president again. we are live from cairo after a quick break. >>> and rescue. a woman saved after police say her ex-husband t
except for sandy, jobs would have been doing better, and sandy is seen as a temporary factor. >>> another usual factor, the layoffs and strikes from hostess. hostess filed for bankruptcy last month. want to bring you up to speed on facebook. facebook moving up. the social network will be listed on the nasdaq 100 next week and could be added to the s&p 500 very soon. shares are down nearly 30% since the ipo. but with the market value about $60 billion, it would rank among the top 50...
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even children whose neams were right in the path of super storm sandy. we are live on the ground in jersey. that's next. i've worked hard to build my family. and also to build my career. so i'm not about to always let my frequent bladder urges, or the worry my pipes might leak get in the way of my busy lifestyle. that's why i take care, with vesicare. once-daily vesicare can help control your bladder muscle and is proven to treat overactive bladder with sympts of frequent urges and leaks day and night. if you have certain stomach or glaucoma problems, or trouble emptying your bladder, do not take vesicare. vesicare may cause allergic reactions that may be serious. if you experience swelling of the face, lips, throat or tongue, stop taking vesicare and get emergency help. tell your doctor right away if you have severe abdominal pain, or become constipated for three or more days. vesicare may cause blurred vision, so use caution while driving or doing unsafe tasks. common side effects are dry mouth, constipation, and indigestion. i've worked hard to get to
even children whose neams were right in the path of super storm sandy. we are live on the ground in jersey. that's next. i've worked hard to build my family. and also to build my career. so i'm not about to always let my frequent bladder urges, or the worry my pipes might leak get in the way of my busy lifestyle. that's why i take care, with vesicare. once-daily vesicare can help control your bladder muscle and is proven to treat overactive bladder with sympts of frequent urges and leaks day...
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despite surviving superstorm sandy the statue of liberty remains off limits to visitors. >> this is the "cbs morning news" for wednesday, december 5, 2012. >>> good morning. good to be with you. i'm terrell brown. we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could form the basis of a deal. the president is now talking about actually lowering the tax rate for the top 2% not now but later. and republicans are now taking some heat over their latest plan a lot of it from within their own party. >> five, four -- >> reporter: house speaker john boehner led the countdown to the lighting of the capitol hill christmas tree last night. >> one. >> reporter: but a di
despite surviving superstorm sandy the statue of liberty remains off limits to visitors. >> this is the "cbs morning news" for wednesday, december 5, 2012. >>> good morning. good to be with you. i'm terrell brown. we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social...